On Breakingviews – Apple could finally make investors as concerned as the wider population about the latest novel coronavirus, say petesweeneypro and rob_cyran:
People wearing protective masks are seen in an Apple Store, as China is hit by an outbreak of the new coronavirus, in Shanghai, China, January 29, 2020. Picture taken January 29, 2020. REUTERS/Aly Song
Apple’s brick-and-mortar stores in China remain closed. Third-party vendors and online sales haven’t provided a sufficient cushion. The tech titan said while its manufacturing partners have no factories in Hubei province, the epicentre of the virus, operations elsewhere in the country were “ramping up more slowly than we had anticipated.”
Everything from vitamins to cars depends on materials and parts from China, which remains a dominant producer of intermediate components. This widget economy may not be sexy, but it is essential. Nintendo, which already moved its Switch console manufacturing out of China, recently said it couldn’t produce as many of them as it wants because of Chinese factory shutdowns.
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